Harbour Trust & Investment Management Co Cuts Stake in Philip Morris International Inc. (NYSE:PM)

Harbour Trust & Investment Management Co decreased its holdings in Philip Morris International Inc. (NYSE:PM) by 5.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,791 shares of the company’s stock after selling 352 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Philip Morris International were worth $697,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PM. State Street Corp increased its stake in Philip Morris International by 0.4% in the third quarter. State Street Corp now owns 54,711,621 shares of the company’s stock valued at $6,715,237,000 after purchasing an additional 224,840 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Philip Morris International by 2.0% in the third quarter. Geode Capital Management LLC now owns 32,101,324 shares of the company’s stock valued at $3,886,818,000 after purchasing an additional 621,034 shares during the period. FMR LLC raised its position in Philip Morris International by 40.9% during the 3rd quarter. FMR LLC now owns 23,168,446 shares of the company’s stock worth $2,812,649,000 after buying an additional 6,721,094 shares during the last quarter. Franklin Resources Inc. lifted its position in Philip Morris International by 3.0% in the third quarter. Franklin Resources Inc. now owns 13,000,570 shares of the company’s stock valued at $1,560,752,000 after purchasing an additional 376,406 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Philip Morris International by 57.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock valued at $1,121,932,000 after buying an additional 3,363,454 shares in the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Morgan Stanley started coverage on Philip Morris International in a report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 target price for the company. Stifel Nicolaus lifted their price target on Philip Morris International from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday. UBS Group increased their target price on Philip Morris International from $105.00 to $120.00 and gave the company a “sell” rating in a report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Barclays decreased their price target on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $134.35.

Philip Morris International Stock Down 0.6 %

Shares of NYSE PM opened at $144.40 on Monday. The stock’s 50 day moving average price is $125.66 and its two-hundred day moving average price is $123.97. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $146.78. The stock has a market capitalization of $224.51 billion, a P/E ratio of 32.02, a PEG ratio of 2.55 and a beta of 0.55.

Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.06. Philip Morris International had a net margin of 9.24% and a negative return on equity of 120.08%. On average, analysts anticipate that Philip Morris International Inc. will post 7.11 EPS for the current year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were given a $1.35 dividend. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $5.40 annualized dividend and a yield of 3.74%. Philip Morris International’s dividend payout ratio (DPR) is 119.73%.

Philip Morris International Company Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.